COLLABORATIVE HOUSING ALLIANCE SECURES $7M PRIVATE INVESTMENT FOR AFFORDABLE HOUSING
Collaborative Housing Alliance REIT (CHAR) secures its first major private investment of $7 million from True North Sports + Entertainment and the Mahon Family Foundation
Winnipeg, Manitoba on Treaty No. 1 Territory and the Homeland of the Red River Metis, October 7 — Today, the Collaborative Housing Alliance REIT (CHAR) announced its first major private investment of a combined total of $7M from True North Sports + Entertainment and the Mahon Family Foundation. This follows the initial $10 million in seed capital contributed by the Province of Manitoba in October 2024.
The announcement was made during a special event at Canada Life, bringing together members of the Business Council of Manitoba, business leaders, and prospective investors to discuss affordable housing options in Manitoba and what led to the creation of CHAR. This transformative commitment marks a significant milestone in CHAR’s mission to expand access to safe, affordable housing, bringing together public, private, community, and philanthropic partners to address Manitoba’s housing needs.
“The challenges facing many Manitobans are complex, but housing is a powerful starting point for change,” says Mark Chipman, Executive Chairman & Governor, True North Sports + Entertainment. “This investment reflects our shared belief that everyone deserves a safe place to call home—and for lasting solutions, we must build them together.”
True North is investing $5 million, and Paul and Anne Mahon are investing $2 million through their family foundation, the Mahon Family Foundation.
“Addressing the challenge of homelessness through affordable housing is a cause Anne, and I care deeply about, and we’re committed to seeing meaningful progress in our province,” says Paul Mahon, Chair of the Board of Trustees for CHAR and former President & CEO of Great-West Lifeco and Canada Life. “We believe CHAR’s mission and structure are uniquely positioned to drive that change. By bringing together experts from across sectors—non-profit, development, finance, government, and support services—CHAR can help ensure that every gap is addressed, and every contributor plays to their strengths. It’s a collaborative model where everyone can participate in the solution.”
The Collaborative Housing Alliance REIT is a social impact real estate investment trust that unites private, public, and community partners to deliver sustainable, scalable, and affordable multi-family housing solutions across Manitoba. The investments will be allocated to future affordable housing projects through the CHAR structure.
“This transformative investment from these local organizations empowers CHAR to make meaningful, long-term contributions to the future of affordable housing in Manitoba,” says Shawn Alwis, President & CEO of CHAR. “It reflects not only the vision of these remarkable Manitobans, but also their compassion for those who are struggling. CHAR’s work is about more than bricks and mortar—it’s about people and partnerships.”
While CHAR has not officially announced confirmed project proposals, it is currently in the process of formalizing commitments for two projects that would deliver 48 transitional housing units. In the coming months, CHAR will launch an expression of interest process for not-for-profit organizations and will evaluate proposals to identify further opportunities in transitional and deeply affordable housing across Manitoba.
Today’s event was hosted by Bram Strain (Business Council of Manitoba), Mark Chipman (True North Sports + Entertainment), and Paul Mahon (CHAR), and featured presentations from leading voices in housing and community development, including:
Mark Chipman, Executive Chairman & Governor, True North Sports + Entertainment
Tessa Blaikie Whitecloud, Premier’s Senior Advisor on Ending Chronic Homelessness, Province of Manitoba
Paul Mahon, Past President & CEO, Great-West Lifeco & Canada Life; Chair, CHAR
Shawn Alwis, President & CEO, CHAR
CHAR is a purpose-driven real estate investment trust working to expand affordable housing across Manitoba. By uniting public, private, and community partners, CHAR renovates and builds multi-family residential properties for those who need them most, striving for a future where every Manitoban has access to safe, affordable housing.